Time to Grow!
Sellers send us lists with assets secured by houses in almost every state of the nation. When we start due diligence our first step is to filter out the states we don’t invest in.
Most mentors advise to start with one to five states and then expand after that. This is great advice, if you start with 50 states you will get overwhelmed and most likely fail.
We have come to the expansion stage of our business. We already included assets in Florida —our backyard— and we are in the process of acquiring assets in Alabama and Illinois.
Our approach to growth is focused on results. As we increase our portfolio we are constantly monitoring and controlling the progress and results of each investment. We are looking for consistent results with the shortest time possible. Each deal is different, therefore we have to look for trends.
This is basically the same approach we had when we developed four single-family home projects and then scaled up to multiple multi-unit condo-buildings and other developments simultaneously.
Before we invest in a new state, we acquire a team to perform all work that we need: we consult with an investor-friendly local attorney and enroll motivated realtors to jump on the bandwagon. Once we have our team it all comes down to running the numbers and following processes.
We included three more states to our location criteria, we acquired an asset in one, and we are in the final stages of DD on assets in the other two. We have our eyes on three more states, so stay tuned.
If you want to know about assets we buy in your state, shoot me an email, and I will let you know when we do.